Buy-to-let lender Fleet Mortgages has temporarily removed all of its fixed rates products.
In a note to brokers seen by The Intermediary Fleet confirmed its tracker products would remain available.
The note read: “Fleet Mortgages is temporarily withdrawing all Fixed Rate products due to highly volatile market conditions. Our tracker products remain available.”
Fleet joins an ever-growing list of lenders who have pulled back from the market to reprice products.
There was a 7% overnight reduction in mortgage deals, according to data from Moneyfacts, as lenders struggle to accurately price products after significant falls in the value of the Pound and the cost of borrowing skyrocketing.
Yesterday the Bank of England said it could raise interest rates even higher if it needed to support the economy.
